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Player Market
The global metaverse in gaming market size was significantly robust in 2020 and is expected to register a rapidly increasing compound annual growth rate (CAGR) during the forecast period. The global metaverse market size was estimated at USD 38.85 billion in 2021. It is expected to expand at a CAGR of 39.4% from 2022 to 2030 [4] and Asia Pacific is expected to register a robust revenue CAGR during the forecast period. Rapidly rising popularity of play to earn (P2E) games, increasing efforts to create immersive gaming experiences, and rising investment to develop different versions of the metaverse are among some key factors expected to drive market revenue growth over the forecast period in which VR Headsets segment is expected to account for largest revenue share [5]. In addition, the gaming sector has gained major popularity and has become increasingly profitable over the years, with large user bases and gamers spending substantially in the gaming industry which is expected to further contribute to revenue growth of the market.
According to the Newzoo report named Intro to the Metaverse 2021, the next decade will bring new expectations for games, the future of gaming is more social, more immersive and more creative. This report said that socializing players spent 2 hours longer per month on average in-game and spent an average of $1.28 more in the past six months. New zoo also forecasted that Play-to-Earn Will Become a More Viable Business Model. The idea of gamers making money from playing games is nothing new. Before, such monetization attempts from players have been against publishers’ terms of service. Companies were unwilling to moderate and regulate player-to-player trading, both financially and in terms of development. However, things are changing. Hype around NFTs and success stories such as Axie Infinity mean many AAA publishers—and their shareholders—are striving to legitimize play-to-player trading. Axie Infinity earned revenue of $400M in July 2021.
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